A double whammy of low-price wind turbine and solar panel installations and an increase in energy costs this coming winter means there has never been a better time to invest in renewable energy, an industry expert believes.
Icon Energy, Scotland's leading renewable specialists, says the popularity of the Feed-in Tariff has driven down the costs of high-quality solar and wind energy systems making the pay-back of cash and carbon more attractive than ever.
Stephen Hamilton, CEO of Icon Energy, explained how the average installation cost is now a few thousand pounds cheaper than it was 12 month ago as a recent survey revealed two-thirds of British households were eager to install sources of renewable energy.
A recent Ernst and Young report revealed improvements in technology, increasing competition and a drop in the price of raw silicon had resulted in dramatic savings on solar photovoltaic systems and high demand for wind turbines had similarly driven down prices.
Icon's Stephen Hamilton said: “There has never been a better time to invest in renewable energy. The government's Feed-in Tariff provides cash rewards for households which install system – so it's a win-win.
“Why wait for the energy bills to land on the doormat this winter – now is the perfect time to start exploring the advantages of investing in renewable.”
“Solar panels or wind turbines are probably one of the best investment decisions home owners can make in the current climate. Not only do families benefit from the free electricity the systems generate during the day, through the Feed-in Tariff scheme - they also receive an income for the energy you generate.”
Icon Energy believes that over the 25-year length of the Feed-in Tariff scheme, an average roof-mounted solar panel would be expected to generate free power and £28,000 in profit.
With energy bills set to continue to rise and the cost of renewable technology coming down, Stephen believes going green will soon be cost effective even without the support of the government incentive scheme.